3rd Behavioral Macroeconomics Workshop
Heterogeneity and Expectations in Macroeconomics and Finance
July 7th-8th, 2021
The workshop was open to the public and took place via Zoom. Slides can be found below for most of the presentations and discussions.
Program (CEST Time)
Day 1: Wednesday, July 7, 2021
| 13:55 | Opening Remarks |
Session A – Expectations and Survey Data (Chair: Joep Lustenhouwer, Heidelberg University)
| 14:00 – 14:40 | Selection in Information Acquisition and Monetary Non-Neutrality Hassan Afrouzi (Columbia University) Discussant: Zeno Enders (Heidelberg University) |
| 14:40 – 15:20 | Average Inflation Targeting and Household Expectations Raphael Schoenle (Brandeis University) Discussant: Kostas Mavromatis (De Nederlandsche Bank) |
| 15:20 – 16:00 | Uncertainty, Expectation Dispersion, and the Reaction to News Jonas Dovern (University of Erlangen-Nürnberg) Discussant: Wei Qian (Shanghai University of Finance and Economics) |
Session B – Experiments (Chair: Tomasz Makarewicz, Bielefeld University)
| 16:30 – 17:10 | An Experimental Horse Race of Different Monetary Policy Regimes Luba Petersen (Simon Fraser University) Discussant: Isabelle Salle (Bank of Canada) |
| 17:10 – 17:50 | The Role of the End Time in Experimental Asset Markets Anita Kopanyi-Peuker (Radboud University) Discussant: Tomasz Makarewicz (Bielefeld University) |
| 17:50 – 18:30 | Intertemporal Prospect Theory Matthias Weber (University of St. Gallen) Discussant: Özgür Gürerk (University of Erfurt) |
Session C – Rational Inattention (Chair: Sven Schreiber, FU Berlin and IMK Düsseldorf)
| 19:00 – 19:40 | The Rational Inattention Framework: Recent Developments Mirko Wiederholt (Sciences Po, Paris) Discussant: Michael Krause (Universtiy of Cologne) |
| 19:40 – 20:20 | The Inattentive Consumer: Sentiment and Expectations Rupal Kamdar (Indiana University, Bloomington) Discussant: Thomas Theobald (IMK Düsseldorf) |
| 20:20 – 21:00 | A Rational Theory of Limited Attention Alexandre Kohlhas (IIES, Stockholm) Discussant: Jonas Löbbing (LMU Munich) |
Day 2: Thursday, July 8, 2021
Session D – Expectations in Macroeconomic Models (Chair: Emanuel Gasteiger, TU Vienna)
| 14:00 – 14:40 | Boundedly Rational Decision Making in Continuous-Time Chandler Lester (University of Oregon) Discussant: Mike Shin (University of Sydney) |
| 14:40 – 15:20 | Heterogeneous Expectations and the Effective Lower Bound Tolga Özden (University of Amsterdam) Discussant: Jacek Suda (NBP and Warsaw School of Economics) |
| 15:20 – 16:00 | Stagnation and Fiscal Policy: A Nonlinear Analysis Seppo Honkapohja (Aalto University) Discussant: Alex Grimaud (TU Vienna) |
Session E – COVID-19 and Economic Behavior (Chair: Christian R. Proaño, U Bamberg)
| 16:30 – 17:10 | The Effects of Fiscal Policy on Households During the COVID-19 Pandemic: Evidence from Emerging Economies Lena Dräger (University of Hanover) Discussant: Sebastian Gechert (IMK Düsseldorf) |
| 17:10 – 17:50 | How to Design Virus Containment Policies? A Joint Analysis of Economic and Epidemic Dynamics Herbert Dawid (Bielefeld University) Discussant: Paola D’Orazio (Ruhr-University Bochum) |
| 17:50 – 18:30 | Virus Dynamics with Behavioral Responses Krishna Dasaratha (Yale University) Discussant: Florian Herold (University of Bamberg) |
| 18:30 – 19:30 | Closing Remarks and Informal Social Meeting |
Time allocation: 25 minutes for paper presentations, 5 minutes for discussants, 10 minutes for general discussion.
Scientific Committee
Emanuel Gasteiger
Christian R. Proaño
Joep Lustenhouwer
Sven Schreiber
Tomasz Makarewicz
Frank Westerhoff
Behavioral Macroeconomics Workshop 